It hasn’t taken long for the hunter to become the hunted and, with insurers smelling blood, the Financial Conduct Authority finds itself in the awkward position of being forced to account for its own actions.
Commentators suggest FCA should move outside capital.
Insurers have long been used to proving their worth and providing their stakeholders with a healthy return on investment, but this week this particular spotlight turned on their regulators.
Plans for insurers to invest in infrastructure projects are being hampered by Solvency II.
The twin peaks regulatory system will need to demonstrate it is providing value for money after a National Audit Office report highlighted escalating running costs and concerns over staff capacity.
Nick Prettejohn is to be named a non-executive at Lloyds Banking Group according to a report from the Financial Times.
International law firm Clyde & Co advised investment firm Whittington Group on the sale of Direct Asia to Hiscox.
Former Lloyd’s chief executive and Brit chairman Nick Prettejohn is to step down from the board of the Prudential Regulatory Authority.
The run-off market looks set to consolidate its position in Europe, a trend borne out by a Clyde & Co survey which found 60% of insurer respondents expect to complete a deal in Europe in the next 12 months.
Former Home Secretary’s parliamentary counterpart Evans ‘dead against’ idea.
Motor has long been a special case in the world of insurance. It is a compulsory purchase that most customers hope to never use.
Four key issues must be tackled for London to maintain its position as a pre-eminent centre for international insurance risks, the International Underwriting Association has warned.
Three insurance industry members have been have been nominated to the Prudential Regulation Authority’s practitioner panel established to represent the interests of the financial services industry.
Millburn Insurance Company has become the first UK regulated insurance firm to enter administration since 2009, three months after it stopped writing new business following a review by the Prudential Regulation Authority.
Insurance Growth Action Plan aims to remove barriers for UK insurers overseas.
In a challenging year for the market, how is Lloyd’s responding to regulatory changes, international competition and the potential threat posed by passive underwriting structures?
Scotland would set up its own financial conduct regulator if it becomes independent from the UK, according to the Scottish government’s white paper on independence released today.
The Association of British Insurers has welcomed the Prudential Regulation Authority’s public consultation on its approach to implementing EIOPA’s guidelines for the preparation of Solvency II.
Regulator ‘not looking specifically’ at issue but confusion surrounds CRD IV.
The former head of Solvency II at the European Commission has called into question the creation of the UK’s ‘twin peaks’ regulatory system for matters relating to the insurance industry.
The former head of Solvency II at the European Commission has called into question the creation of the UK’s ‘twin peaks’ regulatory system for matters relating to insurance.
Facing increasing scrutiny from the UK and Europe, Lloyd’s could be in danger of becoming less competitive. By Katie Marriner
Professional services giant KPMG has raised concerns that a draft supervisory statement issued by the Prudential Regulatory Authority suggests that the PRA no longer considers schemes an appropriate tool for solvent insurers.
Lloyd’s of London has renewed an agreement originally signed with the Financial Services Authority in a bid to avoid duplicating regulation.